Net credit sales for the month are $800,000. The accounts receivable balance is $160,000. The allowance for bad debts is 7.5% of the accounts receivable balance. If the allowance for doubtful or uncollectible has a CREDIT balance of $5000 before the adjustment, what is the balance after the adjustment?

Answer rating: 100% (QA)

The allowance for doubtful or uncollectible accounts is calculated as a percentage of the accounts r... View the full answer